The European Commission's sentiment indicator for the euro area in February provided a rather mixed and jitter outlook for the area, under the ongoing turbulence and debt crisis that is governing the headlines.
Starting off with the Business Climate Indicator, it improved unexpectedly on the month to -0.98 from the revised -1.13 from -1.12 and was expected with less of improvement at -1.05. Improvement was also matched in the Services Confidence which advanced to 1 from the previous and expected -1.
Yet, on the receiving end was Economic Confidence, which declined to 95.9 from the revised 96.0 from 95.7; it was expected to improve to 96.4 yet seemingly the rising jobless, debt crisis and slowdown in the recovery in the fourth quarter increased fear over the outlook for the economy.
Meanwhile, Consumer Confidence was inline with expectations at -17 down from the revised previous of -16 from -17; while Industrial Confidence improved slightly to -13 as expected from -14.